Tag Archives: business

What Can I Do to Gain Leadership Experience? Become a Mentor (8 Tips for Women)

by Stephanie Harbin

Although mentoring is one way to gain leadership experience, it requires commitment and compassion to stay the course. Simply put, mentoring should not be taken lightly. Whether the mentee is an adult or youth, the individual will be relying on you to be available and to provide guidance. Hence, this article suggests eight tips to ponder before taking the leap.

8 Tips

  1. Consider your motive.

What is your motive? This question supersedes everything. If you lack clarity and do not have a big enough why, maybe you need to rethink mentoring as a strategy to acquire leadership experience. Aside from possessing a combination of skills and qualities, you must care about people and their success. So, reflect carefully on your response to the initial question. At length, making a difference should be the major objective.

  1. Write down your goals.

Deciding to become a mentor is one thing, but creating a plan to make it happen is another. For that purpose, develop SMART goals. As you may know, SMART stands for: Specific, Measurable, Attainable, Realistic, and Timely.

What do you need to accomplish in the next week or next 30 days? What do you want to accomplish in a year? Use a journal or spiral notebook to record the information. Plan to succeed.

  1. Begin where it makes sense.

Several groups need mentors: young adults transitioning out of foster care, students (high school and college), women re-entering the workplace, women returning to the community after incarceration, troubled youth, first time supervisors, entrepreneurs, etc. Where do you think you can make the greatest impact?

  1. Keep an open mind.

Your mindset will make the difference. That’s why it is imperative to refrain from being judgmental or biased. Both can stunt the growth of the mentor-mentee relationship.

  1. Perform thorough research.

Read literature to discover the mission of the agency, the programs, and services. Who are the clients? What are their needs? Uncover the challenges and/or opportunities. Even though mentors receive training, never neglect your homework.

  1. Think about potential challenges.

Be encouraged to face any perceived limitations or fears. However, brainstorm ways to overcome them.

  1. Seek to maintain balance.

Effective mentors excel in buildings relationships and relationship building requires time. Still, you cannot lose sight of your other obligations. With that said, get a firm handle of your current schedule. Sharpen your time management skills so that you don’t stress out.

  1. Take the next step.

If you’ve done all of the above, then make your move. There’s no time like the present to get started.

You’re invited to visit https://www.everythingleadership.store to download a FREE 7 Proclamations for You to Make Every Day and Recommended Reading List – Business, Success pdf.

Article Source: https://EzineArticles.com/expert/Stephanie_Harbin/77858

Article Source: http://EzineArticles.com/9971107

Looking for mentorship to start your own business? WE HAVE THAT! Click here for more details.

Support National Entrepreneurship Week

This past weekend was a busy one with Valentine’s Day and President’s Day happening back to back. But did you realize there was another day this past weekend? Saturday kicked off the start of National Entrepreneurship week.

Having taught aspiring entrepreneurs for some years now, National Entrepreneurship Week is not new to us. But we realize a lot of folks probably didn’t know there was an entire week where organizations across the country held events to support and celebrate entrepreneurs in their communities and provide resources to help emerging entrepreneurs.

So how will you show your support? Will you make a special effort to shop with entrepreneurs in your local community or simply show them love on social media by liking and sharing their posts? Whatever you decide to do, remember that now more than ever they are a key part of the economy. Last year caused a dynamic shift in the way many businesses operated resulting in losses for many and gains for some. However supporting local entrepreneurs helps them and helps your community in that as they expand they are able to create jobs for others.

So what are we at ECV Talks doing to support National Entrepreneurship Week? We’re hosting a FULLY LIVE & FREE Entrepreneurship class this Saturday, February 20th at 6 PM EST. Why is it special that it’s fully live? Well we started this Entrepreneurship week with a video replay of our first virtual version of this Entrepreneurship master class so that Ms. ME herself could be in the chat answering questions. But this coming Saturday we’re dropping the reformatted master class with the latest tips you need to save your side-hustle or escape to entrepreneurship.


So Reserve Your Spot TODAY! This is the last time this class will be offered for a few months as we begin our next small group session of our Escape to Entrepreneurism 6 week course. Want more info about the course? Come to the free class and ask questions. We’ll see you there!

Passive Income: How It Works

What if there were a way to increase your cash flow without starting a second job, changing careers, or getting a raise?

If you’re like many, that sounds exactly like what you and your family need! Who wouldn’t want some extra money coming in? It might seem like pie in the sky, but it’s not a fantasy.

Earning a passive income is more achievable than you might realize. Read on to discover how passive incomes work, what makes them so advantageous, and common ways to create them.

In general, a passive income is cash flow that requires little to no regular effort to create and maintain.

That’s not to say that they don’t require work. But the labor involved in opening a passive income stream is normally upfront—you spend time and/or money in the beginning to set up the income stream, then sit back and reap the rewards as time goes on.

It’s an advantageous model because it can potentially free up your time—which is the most valuable resource you have.

But be warned—not all opportunities to create passive income are created equal. Here are a few proven strategies for you to consider!

Create digital products. EBooks, online courses, stock photos, and stock music are all passive income generators. They require initial time investments to create and publish, but then earn you money as users buy them over time.

Rent out property. Renting is a classic source of passive income. It requires money upfront to buy the property—and maybe time and more money for renovations. But once rent starts coming in, they’re income sources that don’t require your daily attention. (Note: Becoming a landlord may have other costs involved, like repairs or replacing old equipment or appliances.)

Build a team of sales professionals. This is the hidden gem of passive income. There’s a starting commitment of time to learn about your market and how to close sales. Then you’ll need to create a team of salespeople. Every time they make a sale, you earn a portion of the profit. Once you’ve mastered the basics, the sky’s the limit for how much passive income you can potentially earn!

If having a passive income stirs your interest, let us know. Register for our FREE class this Saturday, February 13th at 2:30 PM EST to get ideas for your passive income opportunity and what things need to be part of your plan. Afterwards if you’re interested you can get a FREE review of your financial position, skills, and the opportunities available and see which one might work best for you!

Really we’re offering both of these items for free, no catch. Of course we’d love it if you find out that our first course offering is a great fit for you, but even if it isn’t you’ll still be eligible to get the free review. So go ahead and register and tell a friend or three!

Simple Side Gigs

Side gigs should be simple.

They’re not usually meant to consume hours of your time each week or distract you from your main source of income. Fortunately, right now we’re in a side gig golden age. There are dozens of opportunities just a tap or click away. Here are a few simple side hustle ideas that might make you a few extra bucks without sacrificing all of your free time!

Photo by Negative Space on Pexels.com

Freelance writing
Working as a freelance writer can be a simple, efficient way of turning your prose prowess into cold, hard cash. Powerful and persuasive writing is of top importance in the information age, and there are plenty of people and companies that are willing to pay writers for quality content. Look for opportunities to write about your favorite hobbies and interests. It’s an easy way to combine your personal passions with making a little extra each month.

Photo by Katerina Holmes on Pexels.com

Private tutoring or lessons
Do you have a hidden talent? Maybe you’re a secret chef, a low profile ping pong wizard, or a late night guitar hero. You might be surprised by how much people will pay for your insights and guidance—certain video game coaches can make between $10 to $140 per hour, depending on their skill level! The beauty of this gig is that it doesn’t take tons of leg work to get started. You already have the skills and your client base can be from your local community. Just plot out a curriculum, set a price for your services, and get the word out!

Photo by Norma Mortenson on Pexels.com

Delivery driver
Rideshares have become icons of the side-hustle economy. But ferrying strangers to and from bars on the weekends isn’t the only way to make some extra cash with your car. There are plenty of startups and companies that need drivers. That might mean delivering food for a local restaurant chain or dropping off packages for a more established company. Do some sleuthing on what’s available near you and what demand looks like in your area. Since the pandemic, demand for drivers has increased dramatically in many areas.

The beauty of these gigs is that they’re built on skills and tools that you already have. Put in the leg work to get things started and you might just find yourself with a dependable extra income stream!

Opportunity Cost and Your Career

“Opportunity cost” refers to what you can potentially lose by choosing one option over another – even when you aren’t thinking about it.

Nearly every choice you make precludes something else that might have been.

Opportunity cost exists in everything from relationships to finances to career choices, but here we’ll focus on that last one. Over a lifetime, the cost of career decisions can be massive.

numbers money calculating calculation
Photo by Breakingpic on Pexels.com

The math
For opportunity costs that can be measured, usually in dollars, there’s even a math equation. (FYI, Ms. ME spent a few years as a Mathematics instructor.)

What I sacrifice / What I gain = Opportunity cost[i]

Let’s say you have two career choices. One is to work as a mechanic at $50 per hour and the other is to work as a karate instructor at $20 per hour.

Opportunity A / Opportunity B = Opportunity cost

Here it is with numbers: $50 / $20 = $2.50

To translate that, for every $1 you earn as a karate instructor, you could have earned $2.50 as a mechanic. The ratio remains the same whether it’s for one hour worked or 1,000 hours worked because it’s based on earnings per hour.

round silver colored wall clock
Photo by Oladimeji Ajegbile on Pexels.com

Adding a time element
We can only work a certain number of hours in a week and we can only work for a certain number of years in a lifetime. Adding time into the discussion doesn’t change the math relationship between the opportunities but it does recognize real-world constraints. Sometimes these limits are by choice. You could be both a full-time mechanic and a full-time karate instructor, but most people don’t want to work 80 hours per week. Something has to give, and that’s where considering opportunity cost comes in.

If you only want to work 40 hours in a week, you’ll have to choose one career over the other or split your time between the two. But even in splitting your time, there is an opportunity cost. Think about it like this: Every hour spent in a lower paying job costs money if you had an opportunity to earn more doing something else.

The bigger picture
In our example using the mechanic vs. the karate instructor, the difference in annual income is over $60,000 per year ($104,000 minus $41,600). Over a 40-year working career, the difference in earnings is nearly $2.5 million, and it all happened one hour at a time.

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Life balance
Your career choice shouldn’t just be about money – you should do something you enjoy and that gives you satisfaction. There may be several other considerations as well – like opportunity to travel, the kind of people you work with, and the greater contribution you can make to the world. However, if there are two choices that meet all your criteria but one pays a bit more, just do the math!

Strange as it may sound thanks to Covid-19 and everything else that happened in 2020 many people are doing the math and reevaluating what they want to do with their lives. For some, reconnecting with a long lost passion as a side gig or even a full leap into entrepreneurship is the direction that they are considering to achieve their desired level of wellness. If you’re in this category, tell us in the comments below. 🔻

[i] https://blog.udemy.com/opportunity-cost-formula/